Yes, if your boiler is 40 years old, you should consider buying a replacement boiler and sending the old one to the junkyard. Even if your 40-year-old boiler is still operating without major faults or extensive repairs, it's still much less efficient than modern condensing boilers. This means that you're paying more on your gas bills than you should. If you suffer a major boiler failure within the warranty period, the manufacturer must comply with that warranty and replace defective parts.
A new boiler will also operate at maximum efficiency, meaning it will use less fuel to heat your home, helping to keep heating costs low. Older boilers, due to their inefficiency, will generate higher heating bills in the home compared to replacing a modern boiler. The prices of new British Gas combined boilers vary dramatically due to the fact that they install many boilers from different boiler companies. There are many examples of cast iron boilers that last more than 50 years, but this is far from typical.
It's not uncommon for homeowners or facility managers to wait until a boiler breaks down completely before replacing the unit. When properly installed and maintained, homeowners can roughly expect a conventional cast iron water boiler to last 20 years or more. Each boiler is slightly different to install, some are easier than others, and all vary in price depending on the manufacturer. Therefore, although the initial cost of the new boiler must be taken into account, it is still profitable because the cost will recover many times over.
If you have a boiler that is 60 years old, it's time to put the old battle machine on the grass and see which of the modern condensing boilers would be a good replacement. Conventional or older boilers have less efficiency, more energy consumption and are expensive to maintain. Older boilers, especially those that have been in service for several decades, are likely to be only 60% efficient; this means that you only get 60 pence of heat for every pound spent on gasoline. Modern boilers are more efficient than old ones for several reasons, but their main advantage is that they “condense”.